Hesai Group, a Chinese LiDAR systems producer, debuted on the Hong Kong Stock Exchange with 17 million shares priced at HKD 212.8, rising by 7% on the first day. The offering raised HKD 4.2 billion for future growth, driven by a 276% increase in LiDAR system deliveries in 2025.

Hesai secured 120 production programs from 24 automakers with deliveries scheduled for 2025–2027. It delivered 547,900 LiDAR systems in the first half of 2025, a 276% increase from last year, meeting surging demand from China-based automakers. The company’s key customers include top automakers like Li Auto, Changan, Geely, and more.

Founded in 2014, Hesai developed LiDAR-specific chips in 2017 and launched its fourth-generation digital single-photon platform. This platform simplifies design, improves performance, and cuts costs. The company’s co-founder and chief scientist, Dr. Kai Sun, highlighted Hesai’s commitment to making advanced safety and intelligent driving technologies accessible to millions of vehicles at an affordable cost.

Hesai has reduced the cost of LiDAR technology from USD 100,000 to just USD 200, enabling widespread adoption in vehicles. Dr. Kai Sun emphasized Hesai’s role in driving the Fourth Industrial Revolution, enhancing human life through core technologies. The company aims to define this new era by delivering innovative products that shape the future of AI-driven technology.

Read more at Yahoo Finance: China’s Hesai Group lists shares on HK exchange